United Nations Special Envoy for Financing Sustainable Development Mahmoud Mohieldin said the world is witnessing rapid changes that impact all walks of life, noting that Egypt was at the forefront of countries that gave due attention to the issue of sustainability.

He made the remarks during the 7th Forum on Strategies for Transition to Green Economy – dubbed the 7th Green Economy Forum – which kicked off on Tuesday under the theme of “The Transition C-Panel”.

Mohieldin addressed the close relationship between green transition and digital transformation.

He explained that digital transformation is a fundamental element for achieving sustainability goals as clearly shown in various fields, such as the automotive industry, batteries, and green technologies.

He pointed out that the new industrial revolution essentially relies on digitization and modern technology, which requires conscious investment support amid these accelerating changes, whether from governments or the private sector.

Meanwhile, Mohieldin accentuated that investing in people through education and healthcare is the most important form of investment, expressing pride for his academic work and presidency of Egypt’s Nile University.

He said the people of Egypt are the greatest wealth that could lead to achieving development.

He urged businessmen to boost their support for the education system, considering this one of the noblest forms of social responsibility.

He also called on companies to sponsor faculties, departments, and research centers to promote their genuine partnership in the march of development.

Regarding the challenges associated with sustainable transformation, Mohieldin noted that some of these challenges are still unknown, expounding that this requires moving beyond traditional competition rules and adopting a methodology based on collective cooperation to face common risks.

He cited the 2004 experience when what was called the “new social contract” was launched through gradual adjustments in energy prices as a way to test the community’s participation in bearing the burdens of reform in return for a fair distribution of growth benefits.

He concluded his speech by highlighting the importance of switching from the “social contract” to the “green social contract,” which balances between emission reductions and improving the quality of life, while embracing social justice principles.